Amarjargal

Mrs. Amarjargal is a 37-year-old widow, who lives with her mother, a sibling and 2 children in Ger in the Bayanhongor Province of Mongolia. Her mother is retired and stays home. Her sibling herds livestock, and her children Adiyanyam, age 15, and Erdene-Ochir, age 12, go to local schools.

The borrower has been working for various industries previously, and she is now starting her own taxi service business in town. She is requesting 850,000 MNT to purchase spare parts and get her existing car fixed in order to start her taxi service business in town. She is a hardworking, open-minded and modest woman, who has a dream of opening a small grocery store near her home.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.